muses of the moment

November 30, 2012

The Truth is in the Revision

Filed under: John Williams shadowstats, Odds 'n ends, The Financial Crisis — Tags: — totallygroovygirlfriday @ 2:22 pm

As always the imaginary number gets the ehadline, but the “revised” stat is buried on the back page 6 months later.

Here is a summary from John Williams at shadowstats.com:

Third-Quarter 2012:
– Revised GDP Growth Was Flawed and Statistically Insignificant
– GDI (Theoretical GDP Equivalent) Rose 1.7%,
With Second-Quarter Falling into 0.7% Contraction
– Durable Goods Quarterly Contraction Deepened in Revision
– New Homes Sales Quarterly Gain Largely Revised Away

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